“Why Nigeria May Fall Into Recession Again” – CBN Governor, Godwin Emefiele

Why Nigeria May Fall Into Recession Again - CBN Governor, Godwin Emefiele

Godwin Emefiele, the Central Bank Of Nigeria Governor has allayed the fear that Nigeria may fall back into recession if adequate measures are not taken to address it.

Emefiele who just got his second term tenure ratified by President Muhammadu Buhari recently identified a high rate of unemployment as a major problem that can plunge the country into another recession if not quickly addressed.

He made this known while delivering a lecture at the University of Benin today, 23rd May.

His words:

“From some of my concluding remarks, you may have observed whether you like it or not, there is global uncertainty that will, unfortunately, most certainly, lead to another crisis.

“The question could be, how are we, as Nigerians, particularly our leaders, I am talking of Monetary and Fiscal Policy Authority, how are we preparing our country for the next set of crisis?”

 “we have luckily exited recession. We have seen inflation pending downward to about 18.72 percent in 2017 to about 11. 37 percent today. We see reserve moving up, exchange rate stabilizing but unfortunately, we still have an issue and those issues bother on the unemployment rate.”


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